Andrew Kurnit of DWNTWN Realty Advisors Secures $19 Million Construction Loan for Townhome Development in Opa-locka, FL

Planned 112-unit townhome project on a 10-acre site at 1719 NW 143rd Street within an existing 59-unit townhome development called The Mirage at Sailboat Cove in Opa-Locka, FL

Andrew Kurnit

MIAMI, FL – Andrew Kurnit of DWNTWN Realty Advisors, the premier commercial real estate firm, arranged a $19 million construction loan from City National Bank of Florida for a townhome development in Opa-locka, Florida.

Real estate investment firm Redwood National Properties, in a joint venture with David Burstyn of Winston Capital Partners, LLC, plans to build 112 four-bedroom, two-and-a-half-bathroom units on the 10-acre site located at 1719 NW 143rd St.

 The venture closed on the site acquisition concurrently with the construction financing on August 27.

 Redwood is led by Brian A. Sidman of BAS Holdings Investments, LLC. Kurnit was engaged by BAS to provide financial analysis and capital advisory services for the project.

Brian A. Sidman

 The development will consist of 23 separate four and five-unit buildings and the developers intend to target Section 8 Housing Choice Voucher Holders in its leasing strategy.

 The townhomes are expected to be highly coveted as the community will be gated, lakefront and well-appointed, all rarities for affordable and workforce housing.

 “Miami’s affordable housing crisis is extensively documented, and four-bedroom units are amongst the scarcest,” said Kurnit, head of DWNTWN’s capital advisory practice.

“The project is unique for Miami as it contains enough acreage for townhome development, is both gated and lakefront and in close proximity to the region’s main employment and leisure drivers.”

The project is expected to begin delivering units in mid-2021, with full completion expected in early 2022. Each unit will feature contemporary finishes, high-impact windows and lake views. Coastland Construction will be the builder.

 Redwood’s site is located within an existing 59-unit townhome development called The Mirage at Sailboat Cove, which was initially constructed in 2007.

                           David Burstyn

 It is near Miami’s main transportation arteries and employment drivers, including I-95 and the Amazon mega-warehouse at Opa-locka Executive Airport.

 Kurnit spearheads DWNTWN’s capital advisory platform with a focus on securing debt financing and joint venture equity investments. Throughout his career, Kurnit has been involved in more than $2 billion of commercial real estate transactions, spanning all property types throughout the United States.

 For more information on DWNTWN’s other deals, 

visit https://dwntwnrealtyadvisors.com/.

  CONTACT:

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

www.dwntwnrealtyadvisors.com.

DWNTWN Realty Advisors Bolsters Team with Addition of Two New Executives

David Lerner 

MIAMI, FL, June 24, 2020– DWNTWN Realty Advisors, the premier commercial real estate firm founded by Tony Arellano and Devlin Marinoff, continues to aggressively grow during a time when competing brokerages are scaling back.

In the latest example, experienced industry professionals David Lerner and Myles Stepner have joined the firm as Executives.

 Based in Miami, both Lerner and Stepner add tremendous value to DWNTWN’s team of investment sales and leasing specialists.

 Lerner will focus on leasing transactions in all key urban core neighborhoods DWNTWN operates in, while Stepner will generate deals in those neighborhoods and help identify new opportunities in markets including Coral Gables, Coconut Grove and South Miami.

Myles Stepner

 “We are thrilled to welcome David and Myles to the DWNTWN family,” Arellano said. 

“Both are smart, passionate commercial real estate professionals who embody our firm’s forward-thinking, data-driven approach to creating optimal solutions for complex transactions.”

 Lerner’s long history in real estate started in his youth, assisting with his family’s multi-generational portfolio of properties in Miami’s Wynwood neighborhood.

 He has supported the family in the development and growth of the portfolio and expanded his focus to help other landlords, investors and business owners get the most out of their real estate transactions.

 Lerner’s prior experience includes building and overseeing large account management teams at technology companies in Tel Aviv and New York City for 10 years.

Tony Arellano

Stepner joins DWNTWN after spending more than five years representing property owners in significant transactions at Avison Young. 

While there, Stepner participated in more than $65 million in investment sales transactions with private and institutional real estate firms. 

He also served in various roles at Beacon Hill Property Group and The Katsikos Group.

 “We are making long-term investments in talented brokers with integrity, humility and a burning desire to be market makers and market leaders,” Marinoff said. “We plan to continue seeking opportunities to expand our team with such individuals.”

  

About DWNTWN Realty Advisors

Founded by seasoned real estate professionals Devlin Marinoff and Tony Arellano, DWNTWN Realty Advisors is a leading commercial real estate brokerage based in Miami.

The firm’s brokers have an unparalleled depth of knowledge about the urban core neighborhoods and other markets they serve.

Devlin Marinoff

DWNTWN operates with a unique territory-based approach, as each broker brings a specific product and market specialty to the firm.

With 50-plus years of combined experience and more than 500 completed deals totaling more than $2 billion in transactional volume, DWNTWN brings institutional quality advisory services to middle-market clients.

The firm focuses on transactions ranging from $3 million to $20 million, with a data-driven approach to generating optimal solutions for clients.

CONTACT:

Eric Kalis

Vice President

BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

www.dwntwnrealtyadvisors.com.